Building on the Copenhagen Accord, the United Nations Secretary’s
High-Level Advisory Group on Climate Change Finance (AGF) was set up in
February 2010 to identify how industrialised countries could mobilise
US$100 billion of resources per annum by 2020, to support
climate-resilient development in the developing world. The Group
consisted of 21 members, from the public and private sectors and from
the developed and developing worlds. It was co-chaired by the Meles
Zenawi, Prime Minister of Ethiopia, and Jens Stoltenberg, Prime Minister
of Norway. Working through most of 2010, it has analysed a wide range of
options for raising this money from both public and private sources.
This Special Issue brief outlines the implications of AGF report
recommendations for Asia.
Key messages include:
- The AGF report identifies many opportunities for Asia, for example
low-carbon investment from the private sector.
- Building on a good track record, the private sector can finance much
of Asia’s emission reduction needs.
- The AGF’s recommendations to use public resources to leverage private
investment are important for Asia.
- Adaptation to climate change will typically require public revenues.
- Some of the revenue sources identified by the AGF may have negative
impacts on Asia, although it will be possible to devise compensation
arrangements for these.
- The Copenhagen Accord target of US$100 billion per year is unlikely to
be sufficient to meet Asia’s needs.
CDKN Special Issue, November 2010/B, 8 pp.
Regional implications of the AGF recommendations: Asia